Everyone here says that BNY Mellon should get rid of inefficient layers of management. I agree, but what is the probability that it will ever actually happen? I think chances are minimal.
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Seems that Charlie found a very expensive little private oasis for wealthy leadership and did the needful by cutting it all with no downside. From the sound of it, he found far greater savings in the useless Senior levels and probably saved hundreds of real workers from layoffs.
There are always good cuts to be found amongst the dozens of redundant Senior Leadership.
@akee, it's not even close to being clear that charlie saved anything. As I clearly said, my boss and his boss worked along side us but ALSO did manager stuff. They were replaced by managers that did nothing but forward emails and try to micromanage us.
And Uncle Todd certainly passed down the order to axe people during the peak of covid. In fact, he actually shut down a whole site in Syracuse.
Todd fired nobody. As you clearly described, Charlie fired your boss and your boss's boss. Todd doesn’t micromanage layoffs. Clearly Charlie saw some real middle management cost savings and his reports started the decimation of a lucrative senior Mgt cubbyhole. Seems that Todd simply cleaned up a little leftovers. This is actually what the bank needs. Trimming layers of do nothing Senior management.
The most common form of stress these days is dealing with id--ts.
@5kdp, my boss and his boss were not "senior managers". They actually worked along side us but also did all the HR garbage and long term planning, although we didn't have enough time to plan things as much as we should have.
And how is it obvious that it saved any money? You have NO IDEA how much money we could have saved the bank.
Good point. There’s always plenty of good fishing for the other employees who only have themselves to blame for cr-ppy performance and garbage attendance. There are plenty of them blaming management because they cannot do their own job.
All that Senior Management does is to dictate and review emails to go out and some of them can actually write them in Outlook, although that’s less common. Whatever, it sure seems that the bank saved some real expenses with no loss of productivity. We need more of that here.
One cut to a senior leader saves us from cutting multiple overworked teams.
@4dou, yes, besides hundreds of thousands of dollars they gave us in sub pay, we're missing out on several years worth of efficiency improvements for our operations teams, risk reductions in our applications, resiliency enhancements in our applications, automated deployments etc, etc. It may look like our expenses are down because of it, but it's cost us PLENTY.
Are we missing anything after all of these firings?
That actually sounds like a lot of good decisions from Charlie through Todd in cutting some very pricey positions with no discernible impact to the Bank. It actually sounds like what engaged employees seem to all feel has to be done.
If you can read this, Mellon should probably lay you off
How about they get rid of the other employees? You know the ones who only have themselves to blame for cr-ppy performance and garbage attendance. Stop blaming management be sure you cannot do your job
Please… let it be true…
They already began getting rid of middle-management and reducing the layering.
I agree, there is a lot of inefficient and ineffective managers. They give out VP and management titles like halloween candy.
@1lvs, wrong. My manager wanted to hire people but was forced to fire 10% of his people.
Todd fired nobody, Your manager made that choice.
A few years ago, we went through a spans and layers initiative that dramatically reduced the number of managers in the organization. This reduces the number of layers of managers and forced each manager to have a minimum of eight direct reports.
Charlie fired my boss and my boss's boss who actually did work then replaced them with people who just forwarded emails. Then Todd fired me during the peak of covid.